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November 25th, 2007
Nanosphere sees profits in units' cartridges
Nanosphere's automated genetic testing equipment sells for $50,000 per unit, but despite the hefty price tag the Northbrook-based start-up isn't counting on much profit selling boxes.
It's the cartridges used for each test, which go for $65 each, where Nanosphere figures to generate revenue.
"Ours is a razor/razor blade business model," said William Moffitt, Nanosphere's chief executive. "We want to place our equipment in hospital labs so they'll start buying our cartridges."
The plastic cartridges contain genetic material, nanoparticles and chemicals made and packaged in Nanosphere's high-tech operation. Having recently won regulatory approval from the Food and Drug Administration, Nanosphere is rolling out its products slowly, starting with half a dozen hospital labs where company representatives spend a lot of time helping hospital technicians learn to use the equipment.
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